China's used-car seller Kaixin jumps on deal to buy EV maker
26/08/2021 13:50
** U.S. shares of China-based used-car seller Kaixin Auto
Holdings KXIN.O up 16.3% at $3.78 premarket - set for a
5-month high
** KXIN says it has reached a binding term sheet to buy
Chinese small-size electric vehicle (EV) maker Henan Yujie Times
Automobile Co Ltd ("Yujie") urn:newsml:reuters.com:*:nGNXbtHltf
** This is the first deal KXIN has made since it established
its EV business unit
** Yujie has two EVs in commercial production stage
** KXIN said it will make timely disclosure of deal terms
** As of last close, KXIN had fallen 12.9% YTD
(Reporting by Ruhi Soni in Bengaluru;)
((Ruhi.Soni@thomsonreuters.com;))